To properly setup the ReadyQual interface to XpertOnline, you will need to setup the following: 

  • Experian, TransUnion, and/or Equifax access codes
  • Have at least one client with at least one user
  • Have a new product list with the Pre-qualification product enabled in XOP
  • Login and enter credentials for the XOL client in ReadyQual

You can setup XOP to deliver pre-qualification score decisions from Experian, TransUnion, or Equifax to offer a three-bureau, merged pre-qualification report.  


Content Includes:


Get Your Soft Inquiry Access Codes

Before you begin any work in XOP or in ReadyQual, reach out to your bureau representatives to receive soft inquiry access codes. 


Experian

Contact your Experian Representative and request a soft inquiry access code specifically for the Experian Pre-qualification product. You may need to submit more information and complete a questionnaire for Experian to review. Once you have Experian’s approval, they can deliver your code to you.


TransUnion

Contact your TransUnion Representative and request a soft inquiry access code specifically for the TU Pre-qualification product. Once you have TU’s approval, they can deliver your code to you. 


Equifax

Contact your Equifax Representative and request a soft inquiry access code specifically for the EFX Pre-qualification product. Once you have EFX’s approval, they can deliver your code to you. 


Enable the Credit Connection: Setting Up ReadyQual in XOP

To properly enable the credit reporting connection between XpertOnline and ReadyQual, the first step is to setup XOP so that credit report orders can be placed in ReadyQual for that client. To ensure that you are properly tracking and managing ReadyQual transactions, you will need to setup new access codes, at least one client, user(s), and a brand-new product list to assign to that client. 


Experian Pre-qualification Access Code Setup

Login to XOP, select the Setup menu, and choose the Access Codes menu option. Enter your Experian Access Code and your Pre-qualification Subscriber Code information you received from your Experian representative. Please note the following:

  • Choose the Permissible Purpose code of "3F."
  • Select the Soft Inquiry checkbox and Save your changes.


TransUnion Pre-qualification Access Code Setup

Login to XOP, select the Setup menu, and choose the Access Codes menu option. Enter your TransUnion Access Code here and your Pre-qualification Subscriber Code information you received from your TransUnion representative. Make sure to check the Soft Inquiry checkbox. 


Equifax Pre-qualification Access Code Setup

Login to XOP, select the Setup menu, and choose the Access Codes menu option. Enter your Equifax Access Code here and your Pre-qualification Subscriber Code information you received from your Equifax representative. Make sure to check the Soft Inquiry checkbox.


Client Setup

Should the client you want to enable in ReadyQual already exist in XpertOnline, you will need to setup a new client company to properly identify, manage, and bill for ReadyQual transactions Additionally, your existing clients will be unable to select the ReadyQual product from your product list in XpertOnline. As you know, ReadyQual uses soft inquiry access codes, and that cannot be used for your regular mortgage credit products. It must only be used for pre-qualifying products through the ReadyQual platform.


Login to XOP, and go to the Setup | Clients menu option, then click the New button. 

Follow the regular process for setting up a client in XOP by filling out the fields on the client setup detail screen (as shown above). This client is likely a client that already exists in XOP, so you can name this client a similar name, but identify it with "RQ" in the subscriber ID, the client name, or however you want to accomplish this. 


When you are done, Save your changes. When the new client had been added, you will be taken automatically to the Setup tab where you can setup a new product list and product.


Product Setup

From the Setup tab in XOP, check the Use Classic Product Setup checkbox, and click Yes at the prompt. 

You will need to setup a new product list to assign to this client. To do this, click the Lookup Product List button, and at the Search prompt, leave it blank, and click OK. Click the New button and choose New Product List.

In the Description field, enter the name of this product list. You can name it something like "ReadyQual Product List" so that you can use it across multiple clients that will use ReadyQual if you choose.

Click Save, and when the save is complete, click the New button again. Choose New Product. The Product Detail tab will open. 


To make this a ReadyQual-specific product, make sure you enter the name ReadyQual into the Description field. This is a requirement to make sure that the connection between XOP and ReadyQual works properly.

All of the other selections on the Product Detail tab for Category, Priority, User Interface, Preferred Access Order, Product Level, and Checkbox Product Type are not necessary. You can leave these as either blank or take the defaults.


Enter an Individual and Joint Price and Tax here based on your market. This will be your main ReadyQual pricing that you bill to your client when they place orders. With ReadyQual, you will either be offering the XPN, TU, or EFX pre-qualification products, two-bureau product, or three-bureau products. The price entered here depends on which offering you choose. Save your changes.


Setting Up the Experian Access

If you want to use the XPN Pre-qualification product – or if you want to offer a two-bureau or three-bureau pre-qualifying report in ReadyQual – you will need to set the XPN prequal access to Selected on this product. Note – if you want the TU or EFX prequal only, do not setup the XPN Prequal access on this product. 


Click the Product Detail button, the on the new screen, choose the Accesses entry, then scroll through the list until you find the Experian v7.0 Prequalification Report entry and double click to enable. 

On the Access Detail screen, find the Access Code dropdown list, click it, and find your Experian Pre-qualification product access code that you have setup in XOP. Select it from this dropdown list.

Your pricing for this product is going to be handled on the main product price, so you can leave the Individual and Joint Price and Tax fields blank.


Click the Addons button to add a score.  We recommend enabling the Experian/Fair Isaac Model score model, but you can enable any score that fits your need for this product.


Setting Up the TransUnion Access

If you want to use the TU Pre-qualification product – or if you want to offer a two-bureau or three-bureau pre-qualifying report in ReadyQual – you will need to set the TU v4.0 Credit Report access to Selected on this product. Note – if you want XPN or EFX pre-qual only, do not setup the TU Prequal access on this product. 


To do this, click the Product Detail button, then select the Accesses entry. Scroll through the list until you find the TUv4.0 Credit Report and double click it.

On the Access Detail screen, find the Access Code dropdown list. Choose your TransUnion Pre-qualification product access code that you have setup in XOP. 

Your pricing for this product is going to be handled on the main product price, so you can leave the Individual and Joint Price and Tax fields blank. 


Click the Addons button to add a score.  We recommend enabling the TU Classic 04 score model, but you can enable any score that fits your need for this product.


Setting Up the Equifax Access

If you want to use the EFX Pre-qualification product – or if you want to offer a two-bureau or three-bureau pre-qualifying report in ReadyQual – you will need to set the EFX v5.0 Credit Report access to Selected on this product. Note – if you want XPN or TU pre-qual only, do not setup the EFX Prequal access on this product. 


To do this, scroll through the Accesses list until you find the EFX v5.0 Credit Report and double click it.


Your pricing for this product is going to be handled on the main product price, so you can leave the Individual and Joint Price and Tax fields blank. 


Click the Addons button to add a score.  We recommend enabling the Beacon score model, but you can enable any score that fits your need for this product.


Next, click on the Services option. In the Merge Services section, right-click on the Blend option, and set it to Selected. 

  • If you are setting up a single-bureau XPN, TU, or EFX pre-qualification product, it will not be de-duped with other bureau data. XOP requires a merge service on a product. 
  • If you are setting up two-bureau product, the file will be merged according to the merge service selection here. ReadyQual will decision off of the highest score. 
  • If you are setting up a three-bureau product, the middle score returned, by default, will be how the decisioning is determined. 

Finally, click on the Outputs option, find the PDF Lender Report output, then right-click on it and set it to Selected.

In addition to the PDF Lender Report output, you will need to set the XML For Imported Source output to Selected as well.

When you have done all of these steps to setup your product, click the Save button to save your changes. Close out of this screen. 


When you return to the Product Detail screen, click the Select button. 

This will assign this ReadyQual product list to the ReadyQual client.

Click the Save button to retain your changes.


User Setup

You will need to setup a default user that all credit reports that are ordered in ReadyQual will be assigned to in XpertOnline. Note - you only need to setup one user for a ReadyQual client in XOP. You can have as many client users setup in ReadyQual as you like, and whenever orders are placed from ReadyQual, they will all be assigned to this user in XOP. This can be advantageous for tracking purposes. 


Click the Users button, then on the resulting screen, click the New button to add a new user. 

On the User Detail tab, enter a username and password. Make sure to make a note of the username and password because this data is what you will enter into ReadyQual to establish the connection.

You can setup this user however you wish per your security policies and procedures. Keep in mind password expiration criteria that you may set here, because when passwords expire in XOP, this will cause an issue with the connection between ReadyQual and XOP.